| RMB circulating cross-border is an important way of RMB internalization, early in the1990s, RMB had been started its regionalization course and been grown stronger with the expansion of foreign trade. Nowadays, Cross-border RMB Settlement and Off-shore RMB Market have been the two main development models of RMB circulation in Hong Kong and other places. However, the development of RMB circulating cross the Greater Mekong Sub-region is fall behind these areas. In Greater Mekong Sub-region areas, trade and investment are two of the most important ways to drive the RMB circulating, but due to the underdeveloped financial environment, it is hard to build an Off-shore RMB Market there. Besides the particularities of border regions, it takes more difficulties to RMB circulating cross-border. So we should improve the status of RMB in GMS area and take steps to strengthen the strategic cooperation with GMS countries. There are two ways to be selected to push RMB into cross-border countries, one is to make sure the RMB circulation channels are normatively, the other is to enhance the currency and trade cooperation with GMS countries.This article summarizes the pattern of Cross-border RMB Settlement and Off-shore RMB Market, is which based on the research results of the currency internationalization and theories of RMB circulating cross-border. The author consider both of the payment capacity and the activity degree of RMB are be improved, but the distance between RMB and the main international currencies, such as US dollar, is still far. At present, RMB is only get a foot in the door, and it is a long complex process for RMB to realize internalization. Thus, the article emphasizes the current situation of RMB circulating cross GMS countries and analysis the financial environment and the way of RMB circulation, then concludes the feature and the impact factors of RMB circulation. On that basis. the article analyzes the positive and negative effect of RMB circulation. |
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